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Monthly statements for Cash Accounts

To view or download your monthly statements, log in to our website and navigate to Documents.

Accounts without checking features

If you don’t have checking features, you’ll receive one Cash Account statement each month. The statement covers the calendar month and includes all your transactions for that month.

Accounts with checking features

If you have an Individual Cash Account with checking features, you’ll receive two Cash Account statements each month. One statement comes from us, and the other statement comes from our partner Green Dot Bank, Member FDIC.

1. Cash Account Statement from Wealthfront

This covers the calendar month and includes:

• Interest payments
• ACH transfers initiated on our app or website
• Transfers between your Wealthfront accounts
• Wire transfers
• Cash sweeps (this money movement happens behind the scenes and doesn’t affect your balance or cash availability)

2. Cash Account Statement from Green Dot Bank

This covers a 30-day rolling period and includes:

• Debit card transactions
• Direct deposits
• ACH transfers initiated by external institutions using your routing and account numbers
• Cash sweeps (this money movement happens behind the scenes and doesn’t affect your balance or cash availability)

Why two statements?

We’ve partnered with Green Dot Bank, Member FDIC, to bring you checking features. For regulatory reasons, we’re both required to send you monthly statements.

Sorry for any confusion! We are working to offer a document that consolidates these two statements very soon.

 

 

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We’ve partnered with Green Dot Bank, Member FDIC, to bring you checking features.

Checking features for the Cash Account are subject to Green Dot Bank’s application and approval. Debit Card is optional and must be requested. Wealthfront Cash Account Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association. Wealthfront products and services are not provided by Green Dot Bank. Green Dot is a registered trademark of Green Dot Corporation. Green Dot Bank operates under the following registered trade names: GoBank, Green Dot Bank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage. ©2020 Green Dot Corporation. All rights reserved.

Early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. Interest does not begin accruing until funds arrive at the program banks, which may take up to one business day.

Other fees apply to the debit account. Fee-free ATM access applies to in-network ATMs only. For out-of-network ATMs and bank tellers a $2.50 fee will apply, plus any additional fee that the owner or bank may charge. Please see the Deposit Account Agreement for details.

Other eligibility requirements for mobile check deposit may apply.

Apple Pay, Face ID and Touch ID are trademarks of Apple Inc. Google Pay is a trademark of Google LLC.

The Cash Account Annual Percentage Yield (APY) is as of June 1, 2020. The APY may change at any time, before or after the Cash Account is opened. The APY for the Wealthfront Cash Account represents the weighted average of the APY on the aggregate deposit balances of all clients at the program banks. Deposit balances are not allocated equally among the participating program banks.

Cash Account is offered by Wealthfront Brokerage LLC (“Wealthfront Brokerage”), a member of FINRA/SIPC. Neither Wealthfront Brokerage nor any of its affiliates are a bank, and Cash Account is not a checking or savings account. We convey funds to institutions accepting and maintaining deposits. Investment management and advisory services are provided by Wealthfront Advisers LLC (“Wealthfront Advisers”), an SEC registered investment adviser, and financial planning tools are provided by Wealthfront Software LLC (“Wealthfront”).

The cash balance in the Cash Account is swept to one or more banks (the “program banks”) where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC insurance is not provided until the funds arrive at the program banks. FDIC insurance coverage is limited to $250,000 per qualified customer account per banking institution. Wealthfront uses more than one program bank to ensure FDIC coverage of up to $1 million for your cash deposits. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring their total assets at each of the program banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits at program banks are not covered by SIPC.

Nothing in this communication should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Any links provided to other server sites are offered as a matter of convenience and are not intended to imply that Wealthfront Advisers or its affiliates endorses, sponsors, promotes and/or is affiliated with the owners of or participants in those sites, or endorses any information contained on those sites, unless expressly stated otherwise.

Wealthfront, Wealthfront Advisers and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation.

© 2020 Wealthfront Corporation. All rights reserved.